5565 E Silver Springs BLVD Silver Springs, FL 34488
0.73 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Pending
Purchase Type For Sale
Subdivision Not On List
MLS Listing ID 844225
HOA Y/N No
Year Built 1963
Annual Tax Amount $14,775
Tax Year 2025
Lot Size 0.730 Acres
Acres 0.73
Property Sub-Type Hotel/Motel
Property Description
Situated on approximately 0.73 acres with roughly 121 feet of frontage along SR 40, the property consists of three buildings totaling approximately 16,102 square feet. Originally developed in 1963 as a Howard Johnson's Motor Lodge adjacent to a former Howard Johnson's Restaurant, the asset offers a rare combination of historic roadside hospitality character, strategic visibility, and redevelopment potential. The adjoining restaurant parcel has recently sold and is anticipated to undergo redevelopment, further supporting corridor reinvestment and appreciation.
Silver Springs State Park remains one of Florida's most iconic natural attractions, attracting approximately 500,000 annual visitors according to Friends of Silver Springs State Park. The park features renowned glass-bottom boat tours, springs, kayaking, hiking trails, camping, and ecotourism amenities. The property's proximity to the park positions the asset to benefit from continued tourism growth and regional visitation trends.
The property is located within Catalyst Site #4 of the Silver Springs CRA Master Plan, which identifies the area for strategic reinvestment and redevelopment. The plan contemplates the potential rerouting of SR 40 while encouraging neighborhood-scale mixed-use development, including retail and duplex or triplex residential development totaling up to 47 dwelling units, subject to approvals.
Marion County's Special Use Permit (SUP) process may allow alternative uses beyond the existing hospitality configuration, creating flexibility for investors pursuing adaptive reuse, repositioning, or redevelopment strategies. Ownership has also commissioned conceptual renderings illustrating potential renovation scenarios under continued hospitality use.
The Ocala MSA ranked #36 out of 200 large U.S. metros in the 2025 Milken Institute Best-Performing Cities Index and recorded an estimated 2023 GDP of approximately $16 billion according to Milken Institute and U.S. Bureau of Economic Analysis data. The University of Florida Bureau of Economic and Business Research projects Marion County population growth of up to 30% by 2040.
The property is served by gas, electric, public water, and public sewer utilities and has benefited from roof improvements completed in 2013 and 2022, helping mitigate portions of near-term capital expenditure requirements. Opportunities of this scale and location directly adjacent to Silver Springs State Park are almost nonexistent, particularly within a CRA-designated redevelopment corridor in the fastest growing metropolitan area in the country.
Location
State FL
County Marion
Area 28
Zoning Out of County
Interior
Interior Features High Ceilings, Solid Surface Counters, Second Floor Entry, First Floor Entry, Sliding Glass Door(s)
Heating Heat Pump, Wall Furnace
Cooling Central Air, Wall/Window Unit(s)
Flooring Carpet, Luxury Vinyl Plank, Tile, Vinyl
Fireplace No
Exterior
Exterior Feature Balcony, Landscaping, Lighting
Parking Features Parking Space(s)
Fence Chain Link, Picket, Privacy, Vinyl
Pool Pool
Utilities Available High Speed Internet Available
Water Access Desc Public
Roof Type Membrane,Metal,Rubber,Shingle
Present Use Hotel/Motel
Porch Balcony
Total Parking Spaces 24
Building
Lot Description Cleared, Flat, Trees
Faces South
Story 2
Entry Level Two
Foundation Block
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Tax ID 2682850000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
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